The invention relates to a process for producing an iron-and/or tungsten containing powder or powder agglomerate including the steps of: a) mixing at least a first powder fraction comprising a tungsten carbide containing powder, and at least a second powder fraction comprising an iron oxide powder and/or a tungsten oxide containing powder and optionally an iron powder, the weight of the first fraction being in the range of 50-90% by weight of the mix and the weight of the second fraction being in the range of 10-50% by weight of the mix, b) heating the mix of step a) to a temperature in the range of 400-1300° C., preferably 1000-1200° C. The invention also relates to an iron-and/or tungsten containing powder or powder agglomerate.